Samsung doubles 2010 capex to record $16 bln

SEOUL, May 17 (BestGrowthStock) – Samsung Electronics (005930.KS: ),
the world’s largest memory chip maker, said on Monday it would
double capital spending this year to a record mainly to boost
capacity in semiconductors and flat screens.

Samsung, which previously said it would spend at least 8.5
trillion won this year, said 2010 capex would rise to 18 trillion
won ($15.93 billion).

It plans to spend 11 trillion won in semiconductors and 5
trillion won in LCDs.

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(Reporting by Miyoung Kim; Editing by Jonathan Hopfner)

Samsung doubles 2010 capex to record $16 bln